Iceland

Corporate taxation

The corporate income tax rate in Iceland stands at 20%. This rate apply to limited liability companies and limited partnership companies. Corporate income tax for other types of legal entities (e.g. partnerships) is assessed at a rate of 37.6%.

Transfer pricing

Transfer pricing provisions are contained in Income Tax Act no. 90/2003, article 57. The provisions of Article 57 do not contain a reference to the OECD TPG, but the provision takes into account the guidelines. Reference is made to the TPG in Regulation no. 1180/2014 on documentation and transfer pricing between related parties.

Links

• • • • • Transfer Pricing Country Profile
        • Transfer Pricing Dispute Resolution Profile
        • Tax Administration
        • Local Transfer Pricing Guidelines

Transfer Pricing Case Law

Case Name	Description	Date	Countries	Keywords